RealTime IT News

iPIX Acquires Imaging Service Providers

Visual content provider Internet Pictures Corp. Wednesday bought imaging service providers TBI imaging Inc. and Opticom Inc. in stock deals worth $10 million.

iPIX will acquire all of TBI imaging as well as technology from Opticom that helps real estate professionals put content online. The merger is expected to close in the second quarter of this year.

iPIX grabbed the firms to expand its imaging presence in the real estate sector and to scale turnkey service in other online markets, such as travel, automotive, insurance, e-tail and auctions.

iPIX's revamped network will continue to offer the full-service solution that iPIX currently offers in real estate, but also will enable iPIX to provide the real estate market with broader imaging offerings, such as a comprehensive solution for flat images.

TBI imaging captures and processes more than 1.3 million flat images per year for 40 regional metropolitan Multiple Listing Service systems nationwide. Opticom captures and processes more than 250,000 flat images for two of the largest regional MLS systems in the country.

The company's headquarters will remain in Oak Ridge, Tenn., and Palo Alto, Calif., and include offices in Atlanta, Chicago, San Jose, Danville, Calif., London, Los Angeles, New York and Tokyo.

"With the most expansive imaging network in the country, we can now better serve our national and regional partners, all of whom demand broad coverage by a single imaging company," said Jim Phillips, chairman and chief executive officer of iPIX.

More and more e-commerce sites have turned to iPIX for visual content infrastructure solutions.

Last week, Auctions.com enlisted iPIX to offer picture services on its online community. The agreement makes it easy for consumers to post pictures of their online auction. After an initial trial period that started in April, use of iPIX's picture service on auctions.com had increased more than 200 percent.